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Need professional advice for your consent to let with Zephyr Mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Zephyr Mortgages consent to lease
- We are a newly married couple and we found a home flat in Ealing that we like and want to get a mortgage with Zephyr Mortgages. My concern is that I am pregnant and about to give birth very soon as I am on the last few weeks of pregnancy. This wouldn't make it impossible for us to move straight away so we are considering living with our parents for about six months. In the meantime, if we get this property, we can rent it out. I was just wondering how will that work out? Are we likely to obtain consent to let by Zephyr Mortgages
- I currently have a standard mortgage with Zephyr Mortgages. I have been offered a property as part of my job and want to rent out my current home. The mortgage broker seems confident that it is straightforward process. Are you able to provide me with some information please?
- me and my wife have just sorted our rates for another fixed five years with Zephyr Mortgages. Subsequently, I attended an interview and basically I accepted the job offer in Ealing. I'm going to rent a small flat for me and my family in Hackney as we don't wish to sell the house whist there is a chance that we come back within a couple of years.... We really have no idea whether it will work out. We have contacted Zephyr Mortgages but we would like also your take on the situation. How is it to have a consent to let in that case as we secured a fixed 5 years rate we really don't want to lose this rate.
- Last month I got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our ground floor flat in Tower Hamlets we currently live in to rent out. Mortgage on the flat is with Zephyr Mortgages. I wish to avoid putting myself in a situation with two residential properties and then be refused consent to let.
- I would like to rent out my house for two years at most. I would like to know if I could have a consent to let from my current mortgage lender Zephyr Mortgages?
- Do you have the address to which a Consent to Let request to be sent for Zephyr Mortgages? Sorry about bothering you with this query.
- I was wondering if you can help. I require consent to let from Zephyr Mortgages and would like to know if this option would be possible for me to switch to as I must move back home to look after my mum
- Just a quick one. Will Zephyr Mortgages force me into a consent to let product while I'm in a fixed rate product for 2 years?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Zephyr Mortgages consent to let information
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them may result in your insurance becoming invalid. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Zephyr Mortgages